ALROSA today announced that its Q3 and 9m IFRS results. According to the company,  for the first nine months of 2014 revenue increased to  RUB 146.9 bn  marking a growth of 21% y-o-y.  At RUB 65.8 bn its EBITDA registered a growth of  28% y-o-y with EBITDA margin going up to 45%.

However net profit in for 9M 2014 amounted to RUB 12.8 bn, reflecting a 44% decrease y-o-y. The company attributed this “mainly due to increased FX loss as the result of revaluation of the USD-denominated part of the Group's credit portfolio following the ruble depreciation in Q3 2014”.

Free cash flow increased 5.6 times y-o-y in 9M 2014 and stood at  RUB 22.6 bn as a result of “a weaker ruble, higher operating profit and sell-down of inventories”.